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Sangamon Sun

Sunday, November 24, 2024

Former state university employee Rumme paid in $68K to pension fund, could collect $1.02M in retirement

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Former state university employee Diane Rumme, who retired in November 2017, saved $67,526 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rumme would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Rumme received $21,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rumme will have already received $89,883 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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